An electronics showroom well-known in Abuja has been ravaged by a fire. The fire broke out on Monday evening, November 6, at the showroom situated near the renowned Banex Plaza in Wuse, Abuja. The FCT fire service personnel are currently on the scene, working to control the blaze at the electronics store.
Nigerian Banks See Extraordinary Profit Surge Thanks to Forex Gains Recent fluctuations in the Naira’s exchange rate have translated into extraordinary profits for Nigerian banks. According to financial reports from nine prominent banks listed on the Nigerian Exchange Limited (NGX), these institutions collectively achieved a staggering pre-tax profit of N2.292 trillion during the first nine…
The Federal Government has allocated N15 billion for the comprehensive repairs of the Third Mainland Bridge in Lagos, according to details from the recently passed N2.18 trillion 2023 supplementary budget. Also, the government has stated that it owes contractors of the Eko/Marine Bridges the sum of N11,400,024, 608 (N11.4 billion). The Federal Controller of Works…
The Central Bank of Nigeria (CBN) has refuted reports of a shortage of currency notes in the nation. In a statement released on November 2, the CBN, represented by its Director of Corporate Communications, Isa AbdulMumin, assured that there is an ample supply of currency notes to support economic activities in the country. The statement…
The Chairman of the BUA Group and billionaire businessman, Alhaji Abdulsamad Rabiu, has called on Nigerians to exercise patience with President Bola Tinubu’s government as it strives to achieve stability in the foreign exchange market. Rabiu made this appeal during a discussion with the press on Tuesday, October 31, after a closed-door meeting with President…
The Lagos State Government has officially reopened both the Alaba International Market and select markets within the Trade Fair Complex in Ojo. The closure of these markets last week was prompted by issues related to improper waste management and other environmental violations. Commissioner for the Environment and Water Resources, Tokunbo Wahab, emphasized that the decision…
Professor Pat Utomi has issued a warning to the Tinubu administration, advising them to exercise caution in managing the ongoing depreciation of the Naira. Since President Bola Ahmed Tinubu announced the removal of fuel subsidy on May 29th, the Naira has witnessed a significant 40% decline in its value in the foreign exchange market, further…
NNPC Cautions Against Panic Purchases, Ensures Ample Fuel Reserves In a statement released on October 19, the Nigerian National Petroleum Corporation (NNPC) Limited cautioned Nigerian citizens against panic buying. The NNPC clarified that the queues observed in certain areas of Lagos and Abuja were a result of reduced depot loadout in Apapa, Lagos, for a…
Former U.S. President Donald Trump no longer meets the financial criteria for inclusion in Forbes magazine’s prestigious Forbes 400 list. Forbes now estimates his net worth at $2.6 billion, a decrease from the previous year’s estimate of $3.2 billion, which had secured his spot on the 2022 rich list. Trump’s estimated net worth of $2.6…
On the night of October 2, 2023, the Organised Labour reached an agreement to suspend the indefinite strike initially scheduled to commence on October 3, 2023, following approximately five hours of negotiations between the Organised Labour and the Federal Government at the Chief of Staff Conference Room of the Presidential Villa in Abuja. The Minister…
